Correction (October 4, 2026): an earlier version used a market or sponsor median without establishing a DST-only comparison population. This version uses likely 1031 DST issuers.
NexPoint Outlook DST reported 36.5% of its offering ceiling sold in its September 23, 2026 Form D amendment. The Delaware Statutory Trust (DST), sponsored by NexPoint, has not yet filed an amendment reporting half.
Top1031 computes raise velocity from the Form D amendment dates themselves: the days from an offering's first sale to the amendment that first reports 50% of the ceiling sold, and again at 90%. Outlook has crossed neither threshold, so neither count exists. The absence is the finding.
The yardsticks are already in place, waiting on a filing that can be measured against them. Top1031's pace benchmark, restricted to likely 1031 DST programs, covers 24 NexPoint programs and 864 programs market-wide; its sponsor medians are 126 days to half a raise and 197 days to 90%, against market medians of 107 days and 181 days. Those are counts of programs in each cohort, not counts of programs that cleared either mark, and filing-level medians are not unique-Trust medians. NexPoint's medians sit above the market's at both thresholds, which makes the sponsor cohort the more forgiving of the two comparisons. Neither is a schedule any single offering is obliged to keep.
Form D filing | Amount sold | % of ceiling |
|---|---|---|
January 28, 2026 (initial) | $312,500 | 0.9% |
February 18, 2026 | $1,295,000 | 3.9% |
April 28, 2026 | $2,236,000 | 6.8% |
June 30, 2026 | $5,783,245 | 17.6% |
August 5, 2026 | $8,278,256 | 25.2% |
August 31, 2026 | $10,738,336 | 32.6% |
September 23, 2026 | $12,020,387 | 36.5% |
Offering amount: $32,903,006 in every filing. The table reproduces the filings in the record that report an amount sold; it is not the complete EDGAR docket. Source: Form D and amendments, SEC EDGAR.
The climb is steady rather than stepped, and no filing has cut the ceiling. The investor count has gone from one at the initial filing to 27, against a stated minimum investment of $100,000. Amount sold is what the issuer states on the day it files; subscriptions can sit unreported between amendments, so each figure is a floor at its own date.
Pace measures demand, and only demand. The offering is filed under Rule 506(c), which governs how it may be solicited and not how its purchasers were in fact sourced; the filing says nothing about that. It says nothing about the asset either. The Form D files the offering under Other Real Estate and names no property at all, which leaves the filing record silent on what the money is buying. It carries no performance figures; the PPM states the distribution terms.
The next amendment is the one to read. A filing that reports half the ceiling sold would put the first day count on the record and make this raise comparable, in the only units the filings measure, to the 24 NexPoint programs behind it. A filing that does not leaves this raise where it has sat all year: a share of a ceiling, not a span of days.